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Create Direct Debit Communications | This process is run up to 20 days prior to direct debits being taken on Variable Loan accounts It is necessary to provide this advice when loans have been set up so the clients pay an interest only amount This amount will vary depending on the number of days A communication type will be selected that represents the direct debit advice The date range will be for the interest posting dates this process will cover It is possible to advise of a direct debit amount for the future ledger only, current ledger only or both ledgers Check the Do not fix next DD amount if the amount of interest calculated for this process is NOT to be fixed on the direct debit dialog If it is fixed, that is the amount that will be taken on the direct debit run If the amount is not fixed, the current ledger balance will direct debited once the interest posting process has been run This option will take account of any principal repayments or drawdowns between this process being run and interest being posted |
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| Create and Print Maturity Notices | This process should be run on a regular basis to create communication advices of maturities that are coming up These are then sent to clients to obtain their instructions | |
Process Maturity Instructions | Clients will return their maturity instructions These should be actioned by updating the maturity details on the relevant deposit account | |
Post Interest on Accounts | It is usual for deposits to have the same interest posting date, being a month, quarter or half year end There may be some deposit accounts that do not fit with this rule In this case, posting of interest must be undertaken more regularly This process will default to yesterday’s date. [F2] to select the bank account to which any interest due to be paid by direct credit will post It is possible to select a single account so interest will be posted to that account only |
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| Enter Deposit Transactions Enter Withdrawal Transactions | Most cash transactions are initiated through the bank (direct debits, direct credits, AP’s. Internet transfers etc) However, manual transactions need to be processed from time to time Deposit and Withdrawal (Cheque) transactions should be processed through the cashbook immediately This means they will be posted to the associated account immediately to provide an accurate account balance and show the up to date reconciled bank balance |